Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > Electrovaya Receives Initial License Payment for Electric Car and Battery Production in Norway

Abstract:
Electrovaya (TSX:EFL) announces that it has received from Miljobil an initial payment of US $1.3 million as partial consideration for a technology license enabling battery and electric car production at a new plant in Norway. Electrovaya is partnering with Miljobil to produce batteries and electric cars in Norway and providing its proprietary and award winning Lithium Ion SuperPolymer® battery technology to give Miljobil's four-door electric vehicles excellent range and highway speed. The zero emission electric vehicles will be sold in Europe and globally.

Electrovaya Receives Initial License Payment for Electric Car and Battery Production in Norway

MISSISSAUGA, ON, Canada | Posted on October 2nd, 2008

"We are delighted to develop a world-leading electric vehicle for the European and Global markets with Miljobil" said Dr. Sankar Das Gupta, Chairman of Electrovaya. "The demand for long range highway speed electric vehicles is large and we expect Electrovaya's battery to be the enabling technology to bring Electric Vehicles into commercial success." Dr. Das Gupta continues "Electrovaya's lithium ion Superpolymer® battery has an unparalleled combination of energy density and power density which is necessary to give electric vehicles both long driving range on a single charge as well as acceleration and high speed capabilities."

"Miljobil is delighted to license Electrovaya's technology and bring Miljobil's vision of electric cars to the global market" said Bjorn Nenseth, CEO of Miljobil. "Miljobil has over the years pioneered the use of Electric vehicles in Norway and we are pleased to announce this new development in our ongoing partnership with Electrovaya."

####

About Electrovaya
Electrovaya (TSX:EFL) is a world leader in the design, development and manufacture of its proprietary Lithium Ion SuperPolymer® battery systems. Electrovaya's mission is to accelerate clean transportation as a commercial reality with its advanced power systems for all classes of zero-emission electric vehicles and plug-in hybrid electric vehicles. Electrovaya also offers battery-related consumer products primarily focused on the healthcare market.

Forward-Looking Statements

This news release may contain forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook for the Company's business and results of operations. Risks are outlined in the Company's MD&A for the quarter ending June 30, 2008 and are set forth in public disclosure documents filed with Canadian regulatory authorities. By nature, these risks and uncertainties could cause actual results to differ materially from those indicated. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For more information, please click here

Contacts:
Electrovaya Inc.
P. Hart
Chief Financial Officer
(905) 855-4636

Copyright © Market Wire

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Basque researchers turn light upside down February 23rd, 2018

Stiffness matters February 23rd, 2018

Imaging individual flexible DNA 'building blocks' in 3-D: Berkeley Lab researchers generate first images of 129 DNA structures February 22nd, 2018

'Memtransistor' brings world closer to brain-like computing: Combined memristor and transistor can process information and store memory with one device February 22nd, 2018

Announcements

Basque researchers turn light upside down February 23rd, 2018

Stiffness matters February 23rd, 2018

Histology in 3-D: New staining method enables Nano-CT imaging of tissue samples February 22nd, 2018

Developing reliable quantum computers February 22nd, 2018

Patents/IP/Tech Transfer/Licensing

NTU scientists create customizable, fabric-like power source for wearable electronics January 30th, 2018

IBM Breaks Records to Top U.S. Patent List for 25th Consecutive Year: IBM Inventors Receive Record 9,043 Patents in 2017 in Areas such as Artificial Intelligence, Cloud, Blockchain, Cybersecurity and Quantum Computing January 11th, 2018

A new product to help combat mouldy walls, thanks to technology developed at the ICN2 December 14th, 2017

Chinese market opens up for Carbodeon nanodiamonds: Carbodeon granted Chinese Patent for Nanodiamond-containing Thermoplastic Thermal Compounds December 4th, 2017

Automotive/Transportation

Leti’s Chief Scientist Presents Optimistic Vision for Neuromorphic Hardware and Ultra-Low-Power Microdevices for Edge Computing at ISSCC: Leti’s Chief Scientist Presents Optimistic Vision for Neuromorphic Hardware and Ultra-Low-Power Microdevices That Are Based on Novel Emerging February 13th, 2018

Ultra-efficient removal of carbon monoxide using gold nanoparticles on a molecular support: New method and mechanism for state-of-the-art gas purification February 9th, 2018

Vanadium dioxyde: A revolutionary material for tomorrow's electronics: Phase-chance switch can now be performed at higher temperatures February 5th, 2018

New research yields super-strong aluminum alloy January 25th, 2018

Battery Technology/Capacitors/Generators/Piezoelectrics/Thermoelectrics/Energy storage

Leti Chief Scientist Barbara De Salvo Will Help Kick Off ISSCC 2018 with Opening-Day Keynote: In Addition, Leti Scientists Will Present and Demo New Technology for Piezoelectric Energy Harvesting February 8th, 2018

Round-the-clock power from smart bowties February 5th, 2018

NTU scientists create customizable, fabric-like power source for wearable electronics January 30th, 2018

Ultra-thin memory storage device paves way for more powerful computing January 17th, 2018

NanoNews-Digest
The latest news from around the world, FREE



  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project